CATL announced on April 16th that its wholly-owned subsidiary, Ningbo WIDEM invests in establishing a company named Yibin Chendao New Energy jointly with Ningbo Chendao, Yibin Emerging Industry Investment, Qingdao Jiayu and CNCB (Hong Kong) Investment in order to make layouts in battery raw material and power battery system solution area, new energy vehicle and energy storage system recycling area, battery reusing area and other areas. Of the total subscribed funds investment of RMB3.401 billion (USD522.56 million), RMB1 billion (USD153.65 million) will come from Ningbo WIDEM as limited partner.